Daewoo Shipbuilding & Marine Engineering has turned downbeat on the newbuilding outlook as the coronavirus pandemic continues to weigh on energy demand.
The South Korean shipbuilder secured just seven newbuilding orders worth $1.53bn in the first seven months of 2020, far below its full-year target of $7.21bn.
“Global trading is slowing down due to the Covid-19 outbreak. Newbuild ship orders will increase when the global recession is eased,” Seoul-listed DSME told investors in a web report.
